A message from Geoff Lloyd to MLC employees

Wednesday 7 October 2020

Hi everyone,

You will now have seen Ross’ note advising that I will be leaving the organisation at the end of October following the agreement for IOOF to purchase MLC.

Having had the opportunity to lead MLC over the past two years, I feel a great sense of pride and gratitude.

I am proud to have taken on this challenge. The level of change required was definitely larger than I first anticipated however you all quickly got behind the refreshed strategy, including those of you who preceded me and also those who joined to help reset and reshape MLC. Like me you all saw the opportunity in this great brand and the need for leadership in the wealth market.

I feel proud of our purpose-led strategy and the early results. Creating future confidence is so right for MLC and can’t be copied by others. MLC is now firmly on a path to separate safely from NAB. Our focus on fixing and modernising the business has already driven uplifts in client advocacy (NPS), returned platforms to positive flows, strengthened the Workplace super business and returned our brand and reputation measures to above pre-Royal Commission levels. We have also restored more clients at a faster rate having lifted momentum in remediation programs.

As you all know, I am also particularly proud of the way we have adapted to the COVID19 pandemic and constantly prioritised clients and our people during this period of national stress. You never missed a step, in fact you picked up the pace and did amazing things. I will miss Mark playing the piano and Naomi’s cooking lessons. I encourage you all to keep posting on Workplace the terrific “moments that matter” that make such a difference in our clients’ lives.

Now to gratitude, which has been such a theme for us with so many of you diving into the #gratitude movement from May. I am grateful for the way you have all given so much to MLC, our clients and each other to turn the organisation around, always with our clients top of mind and at the heart of our commitments.

I am sincerely thankful for Ross’ support, the NAB Board and Executive leaders, and MLC Boards who have all supported the fixing of MLC to set it on a path for a bright future.

I am grateful to have had the opportunity to lead and be part of the most cohesive, experienced and committed executive leadership team of my career. They are each special and talented, and collectively outstanding. Along with this team, I’ve loved tapping into our Delta leadership group and CEO Circle for inspiration and help. I have had no regrets in taking this role and will always be appreciative of the chance to serve our clients and set up the business to help more Australians create future confidence.

Many of you will be part of that bright future at IOOF as it acquires MLC. I will be watching with interest and relishing every bit of the well-deserved personal and professional growth in the team.

I wish you all every success, you have been a great company to lead.

I’m at MLC until the end of October so look forward to seeing you all before then.

Warm regards,